Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
 9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income (Loss) $ 22,641 $ (93,321)
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided By Operating Activities:    
Depreciation and Amortization of Premises and Equipment 1,605 1,729
Amortization of Premiums and Accretion of Discounts on Investments Securities, Net 2,052 476
Amortization of Other Intangible Assets 569 902
Amortization of Servicing Assets 487 705
Share-Based Compensation Expense 440 748
Provision for Credit Losses 8,100 117,496
Net Gain on Sales of Investment Securities (1,634) (117)
Net Gain on Sales of Loans (1,044) (443)
Loss on Sales of Other Real Estate Owned 599 81
Provision for Valuation Allowance on Other Real Estate Owned 470 8,444
Impairment Loss on Investment Securities   790
Lower of Cost or Fair Value Adjustment for Loans Held for Sale 2,903  
Deferred Tax Benefit   3,608
Origination of Loans Held for Sale (28,656) (21,050)
Net Proceeds from Sales of Loans Held for Sale 20,011 119,560
Loss on Investment in Affordable Housing Partnership 660 660
Decrease in Accrued Interest Receivable 823 1,050
Increase in Servicing Asset (481) (60)
Increase in Cash Surrender Value of Bank-Owned Life Insurance (701) (703)
Increase in Other Assets (401) (4,547)
Decrease in Income Tax Receivable   47,366
(Decrease) Increase in Accrued Interest Payable (2,476) 1,121
(Decrease) Increase in Other Liabilities (510) 223
Net Cash Provided By Operating Activities 25,457 184,718
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from Redemption of Federal Home Loan Bank and Federal Reserve Bank Stock 3,320 3,374
Proceeds from Matured or Called Investment Securities Available for Sale 171,490 100,006
Proceeds from Matured or Called Investment Securities Held to Maturity 35 19
Proceeds from Sales of Investment Securities Available for Sale 152,468 3,264
Net Proceeds from Sales of Loans Held for Sale 73,126  
Proceeds from Sales of Other Real Estate Owned 5,598 7,732
Net Decrease in Loans Receivable 114,269 229,531
Purchases of Federal Reserve Bank Stock (40)  
Purchases of Investment Securities Available for Sale (267,432) (294,669)
Purchases of Investment Securities Held to Maturity (51,844)  
Purchases of Premises and Equipment (633) (711)
Net Cash Provided By Investing Activities 200,357 48,546
CASH FLOWS FROM FINANCING ACTIVITIES:    
Decrease in Deposits (113,552) (221,941)
Proceeds from Exercise of Stock Options   22
Net Proceeds from Issuance of Common Stock in Private Offering   116,276
Repayment of Long-Term Federal Home Loan Bank Advances (259) (244)
Net Change in Short-Term Federal Home Loan Bank Advances and Other Borrowings (132,861) 811
Net Cash Used In Financing Activities (246,672) (105,076)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (20,858) 128,188
Cash and Cash Equivalents at Beginning of Period 249,720 154,110
CASH AND CASH EQUIVALENTS AT END OF PERIOD 228,862 282,298
Cash Paid During the Period for:    
Interest Paid 23,900 28,875
Income Taxes Paid, Net of Refunds 3 (49,971)
Non-Cash Activities:    
Loan Provided in the Sale of Loans Held for Sale 5,750  
Transfer of Loans to Other Real Estate Owned 3,938 11,745
Transfer of Loans to Loans Held for Sale 66,287 103,717
Loan Provided in the Sale of Other Real Estate Owned 510 1,217
Issuance of Stock Warrants in Connection with Common Stock Offering   $ 1,967